Renewal for Relevance
The first, more moderate level of change is renewal. Renewal means refreshing the business from season to season - making the ongoing adjustments that keep it consistently relevant to its markets as tastes, expectations, and conditions shift. It is the steady, continual work of staying current.
Renewal relates to Relevance. By renewing the business from season to season - moderate, regular adjustments - it stays consistently relevant to the markets it serves.
What renewal looks like
Renewal is usually visible in the offering: a refreshed product line each year, an updated service, a new feature set, a modernised experience, a rebrand of a sub-brand. It is meaningful change, but within the existing shape of the business. A fashion retailer bringing out new seasonal collections, a software company shipping annual major versions, a restaurant refreshing its menu - all are renewal, keeping the offer aligned with current demand.
The rhythm of change
A key insight is that different aspects of an organisation need to change at different rates. Offerings change most frequently; structures less often; brands less often still; and purpose least of all. Renewal operates mostly at the fast-changing end - the offerings and experiences - keeping them fresh season after season.
| What changes | How often | Mostly via |
|---|---|---|
| Offerings | Most frequently | Renewal |
| Structures, roles, relationships | Less often | Renewal → Reinvention |
| Brands | Less often still | Reinvention |
| Charter / purpose | Least often | Reinvention |
How well does your organisation renew its offerings season to season? Is it keeping pace with shifting customer expectations, or quietly falling behind?
Sources
- Global Innovation Institute (GInI), Foundations of Innovation body of knowledge.
- Govindarajan, V., The Three-Box Solution, 2016.
- Foster, R. & Kaplan, S., Creative Destruction, 2001.